Property experts are generally positive about the bottoming out of the market which many believe signals a great buying opportunity especially for first time homebuyers who are inundated with incentives from
the government and private sector.
The answer is an overwhelming YES, according to forum panellists at the recent Swhengtee 4th Annual Expo held in Kuala Lumpur. “For the next few years, from 2019, it’s a very good time to buy,” sums up Dr Peter Yee, author and property consultant.
Yee, who is also moderator of the forum explains that there are 4 seasons to a property cycle with every cycle lasting about 3 years.
“We are now at mid-winter season where prices are low; 2020 will be late winter, followed by early spring. Now is the time to ask for discounts as there are many motivated developers and sellers,” he revealed.
The veteran property investor also said that he exited the market around 2013/2014 when the market was at its height. “The market had become unsustainable and it could only go down from there,” he explained.